Sheets of paper, yellowish-white, Charlie removed (4)
I believe the answer is:
ream
'sheets of paper' is the definition.
(a ream is a large amount of paper)
'yellowish-white charlie removed' is the wordplay.
'yellowish-white' becomes 'cream' (yellowish-white colour).
'charlie' becomes 'C' (phonetic alphabet).
'removed' is a deletion indicator.
'cream' with 'c' removed is 'REAM'.
(Other definitions for ream that I've seen before include "Quantity of paper, about 500 sheets" , "Make hole larger - lot of paper" , "Widen (hole) with borer; twenty quires" , "Five hundred sheets of paper" , "Lots of paper" .)